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QUESTION 12 Suppose that you are offered an investment that will pay $1,000 at the end of each of the next five years. How much
QUESTION 12
Suppose that you are offered an investment that will pay $1,000 at the end of each of the next five years. How much would you be willing to pay for this investment if your required rate of return is 9% per year?
| a. | $3,176 | |
| b. | $3,890 | |
| c. | $4,201 | |
| d. | $4,930 |
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